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AU / Accounting / ACCT 2210 / what is Triple Bottom Line?

what is Triple Bottom Line?

what is Triple Bottom Line?

Description

School: Auburn University
Department: Accounting
Course: Managerial Accounting
Professor: Fetsch
Term: Fall 2016
Tags: fetsch, managerial accounting, costs, Chapter, Chapter3, chapter2, and Auburn University
Cost: 50
Name: Exam 1 Study Guide
Description: Chapter 2- Types of Costs Chapter 3- Job Order Costing
Uploaded: 09/08/2016
5 Pages 7 Views 11 Unlocks
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Exam 1 Review


what is Triple Bottom Line?



Chapter 1

∙ Purpose of an organization

o Traditional view- corporation meant to maximize profits and shareholder value o Modern (stakeholder approach) view- interests all work together for purpose of  producing goods and services at a profit considering both shareholders and other  constituencies  

∙ Triple Bottom Line- social, environmental, and economic  

∙ Two main job attitudes

o Organizational commitment- employees who are not committed engage in withdrawal  behavior  

∙ Three types of commitment

▪ Affective- emotion based (I want to be here)

▪ Continuance- cost based (I need to be here)

▪ Normative- obligation based (I ought to be here)

o Job satisfaction  

∙ P-O-L-C Framework  

o Planning- define goals and objectives

o Organization- attracting people, specifying jobs, marshalling and allocation of  resources, creating good work conditions


what is Organizational commitment?



o Leading- directing, motivating, and communication within the company; decision  making

o Controlling

Chapter 2

∙ Early Management Influencers  

o Henri Fayol

∙ 5 management functions and 14 management principles  

∙ Principles lead to motivation (equal better performance), commitment, and  satisfaction

o Frederick Taylor

∙ Scientific management (Taylorism)

∙ Concerned with productivity and efficiency --> laid groundwork for studies on  efficiency

∙ "time studies" using a stopwatch  

o Frank and Lillian Gilbreth

∙ Time and motion studies  

∙ Developed "motion studies"- tried to figure out which movements to completely  eliminate to increase productivity  

∙ Therbligs- 18 motions to maximize efficiency  

∙ Modern Management Influencers

o Peter Drucker

∙ Management as an art and science


what are the two types of ethical theories?



∙ Key contribution- knowledge worker (handling or using information),  decentralization (increase labor's decision making), respect for the worker  ∙ Led the shift from traditional management to contemporary management styles

Exam 1 Review

o Tom Peters and Robert Waterman Don't forget about the age old question of What is the scientific method?

∙ Placed further emphasis on leadership, innovation, and valuing people  o Simon Sinek

∙ Defines what a leader is

∙ Certain characteristics define a "leader", but one of the most important factors is  the environment they are in  

∙ Ethical decision making process

o Assess the situation

o Consider the stakeholder's point of view

o Consider all possible alternatives

o Pay attention to how it makes you feel- would you feel proud or ashamed ∙ Morality requires empathy

o Make a decision  

o Monitor outcomes  

∙ Two Ethical Theories

o Utilitarianism

∙ Do whatever will bring the most benefit (intrinsic value) to all of humanity ▪ The needs of many outweigh the needs of the few

▪ Maximize the greater good

∙ We do not care about the intensions, just about the consequences  

o Deontology

∙ The theory of duty or moral obligation

∙ Judges the morality of an action based on the action's adherence to a rule or  rules  

∙ Intensions behind the decision matter Don't forget about the age old question of What is an unstable self-image?
If you want to learn more check out UN partition plan (11/29/1947)

∙ We can only control our motives- we cannot control the outcome or  Don't forget about the age old question of How to calculate athlete calorie consumption?

consequences

Chapter 3

∙ Personality vs. Values vs. Attitudes

o Personality- relative stable feelings, thoughts, and behavioral patterns a person has  ∙ Affect our attitudes  

o Values- stable life goals held by individuals  

∙ Value attainment often determines: organizational commitment, turnover, etc  ∙ Stable like personality; both can impact attitude and behavior at work, job  performance, and career choice  

o Attitudes

∙ Job satisfaction and organizational commitment  

∙ Attitudes affect behaviors

▪ Behaviors- performance and OCBs (organizational behaviors- going  

above and beyond, turnover, withdrawal)

∙ Big 5 (OCEAN)

o Openness to experience

∙ How curious, original, intellectual, creative and open to new ideas you are

Exam 1 Review

o Conscientiousness

∙ The degree to which a person is organized, systematic, achievement-oriented,  and dependable  

o Extraversion

∙ The degree to which a person is outgoing, talkative, and sociable  

o Agreeableness

∙ The degree to which a person is affable, tolerant, sensitive, trusting, kind, and  earnest  

o Neuroticism

∙ The degree to which a person is anxious, irritable, and temperamental; difficult  handling stress  If you want to learn more check out What is Protestant Reformation:?

∙ Other useful personality traits

o Self-monitoring

∙ The extent to which a person is capable of altering one's actions and appearance  in social situations Don't forget about the age old question of What is post-lactation dependency?

o Proactive personality  

∙ A person's inclination to fix what is wrong, change things, and to use initiative  to solve problems

o Self-esteem

∙ The degree to which an individual has overall positive feelings about his/herself o Self-efficacy

∙ A belief that one can perform a specific task successfully

∙ Work Outcomes

o Organizational citizenship behaviors- additional "extras" that add value but which are  not part of the formal job description; going above and beyond  

∙ OCB-I: helping behaviors aimed directly at specific persons

∙ OCB-O: helping behaviors aimed at the system  

o Attitudes contribute to whether employees engage in behaviors

∙ Organizational commitment and job satisfaction  

∙ Perception

o Perception is the process with which individuals detect and interpret environmental  stimuli; they are affected by individual values, needs, and emotions  

∙ Self-perception- errors and biases in perceiving oneself

∙ Social perception- errors and biases in perceiving others  

o We pay selective attention to some aspects of the environment, and ignore other  elements that may be immediately apparent to other people  

∙ Organizational Justice

o Procedural- fairness in the way policies and process are carried out

o Distributive- the allocation of resources or compensation and benefits o International- the degree to which people are treated with dignity and respect  o The root of organizational justice is trust, something that is easier to break than to  repair if broken

Exam 1 Review

In Class Review  

∙ Individual characteristics- aspects that are not easily changed; like your personality ∙ Work attitudes- job satisfaction and organizational commitment

∙ Work behaviors: OCBs- interpersonal and organizational  

∙ How are all of these related? They influence your work

∙ Job satisfaction is not related to personality  

∙ Job satisfaction is weighted heavily on the nature of the work

∙ Types of commitment

o Continuance- I need to

o Affective- I want to  

o Normative- I ought to

∙ Individual-level performance

o In-role: individuals are recruited, selected, and hired to take responsibility for  fulfilling the job description

o Extra-role: additional "extras" that add value but which are not part of the formal job  description (like OCBs)

∙ "Taylorism"- scientific management  

∙ The Gilbreths are known for motion studies and time studies  

∙ Centralization is the decision to concentrate decision-making among top managers should  depend on the competency of the workers  

∙ There are limitations of early theorists- they dehumanize the work force and only apply to  the Manuel labor force  

∙ Economies go through three stages: agricultural --> industrial --> service oriented  ∙ Ethical Theories

o Utilitarianism- the greater good; actions do not matter, the consequences matter o Deontology- moral duty; intensions matter more than the consequences- you cannot  control the consequences from your actions  

∙ Personality is the relative stable feelings, thoughts, and behavioral patterns a person has ∙ The Big Five

o Openness to experience

o Conscientiousness

o Extraversion

o Agreeableness

o Neuroticism  

∙ The Dark Triad

o Narcissism: grandiosity, superiority

o Machiavellianism- unprincipled and manipulative

∙ Unprincipled means that they expect others to act this way so they do too  o Psychopathy- impulsivity, malevolent  

o Impulsive- psychopathy and narcissism

o All 3 lack empathy  

∙ Other traits

o Self-monitory: can adapt to any given task

o Self-efficacy: perform high on a particular task

o Pygmalion affect- someone else believes in you so you perform better on a task

Exam 1 Review

∙ Perception

o Organizational justice- how fair the organization treats its employees o Dimensions of organizational justice

∙ Procedural- how fair policies and procedures are carried out

∙ Distributive- how fair resources are distributive  

∙ Interactional- how fair people are treated

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